What's API Banking?
Instant Pay offers API based banking services to to select businesses. Every transaction that moves through the Instant Pay platform is actionable.
Ultimately, every transaction can trigger an action, whether that be remittance, automating a supplier purchase or even turning on a smart light on the opposite side of the world.
API Banking is the future of banking. Where currently, transactions must be retrieved from a transaction list or statement and then reconciled or acted upon by a third party - Instant Pay API Banking services give you the ability to add an API event or action against any transaction that is made through our platform.
What Can My Business Do
API banking with Instant Pay means that business can:
- Automate reconciliation processes
- Automate account onboarding, or activations based on payments received
- Automate supplier purchasing
- Remit instantly to any third party through api, sms, email or social media
- Complete any API event from a received payment that you can think of
And all these events are completed on Australia’s fastest banking network, the NPP. We support NPP receivables and outgoings, meaning that money is sent or received with cleared funds within seconds.
For the majority of payers in Australia, this means they no longer need to use credit cards to kick-start a project, pay for consumables or setup a digital account with your business.
And because we don’t use the credit card ‘promise to pay’ methodology, we can complete this for a fixed price with no percentage merchant fee.
Talk to us today about how API Banking can improve your business workflow.
